The present invention relates to financial business systems and deals more specifically with a data processing methodology and related apparatus for effectuating a on-line realtime banking/brokerage computer interface system.
The banking/brokerage system of the present invention uses a data processing methodology and appropriate interface logic apparatus to integrate the standard functions and operations normally associated with separate and independent banking and brokerage institutions or systems. Traditionally, banking and brokerage systems are autonomous and maintain completely separate and independent data file information and records. A brokerage client desiring for example, to deposit or withdraw funds from his bank account must go to the bank to conduct the transaction. If a client desires, for example, to purchase securities at a brokerage office and does not have sufficient funds in his brokerage account to complete the transaction, he must first go to his bank and withdraw funds from his bank account or perhaps take a loan and then deposit those funds to his brokerage account to have sufficient funds in the brokerage account to complete the transaction.
A client may at other times have excess funds in his brokerage account due, for example, to the receipt of monies from a sale and may wish to deposit those excess funds to his bank account. In conventional banking and brokerage systems, the client must first withdraw the excess funds or a portion thereof from his brokerage account and then deposit them in his banking account. If funds are needed in the brokerage account to make up a deficiency due to subsequent transactions, such as, for example, changed margin limits, etc., the clients must withdraw funds from the banking account and deposit them to his brokerage account to cover any deficiency.
A general aim of the invention is therefore to provide a banking/brokerage computer interface system to access data file information for a customer having both a banking and brokerage account to automatically create transaction processing within and between the banking and brokerage systems. Although the banking and brokerage systems could be combined into one large monolithic system, it is preferable and advantageous that the two systems remain autonomous and retain their ability to function as independent, stand alone system so that an operational malfunction in either the banking or brokerage systems does not effect the operation of the other functioning system and administrative changes, enhancements, etc., can be made to either system witout effecting the other.
Another general aim of the present invention is to create independent and separate transactional activity historical records for each system on a per transaction basis rather than on a net basis. That is, for example, a record is created showing a deposit to and withdrawal from a brokerage account and a deposit to a banking account of the withdrawn brokerage funds. This feature facilitates compliance with regulatory keeping regulations and provides a detailed audit track.
These general aims are acheived in accordance with the invention, and as described in more detail hereinafter, by a data processing methodology and appropriate logic interface apparatus to effectuate automatic access to data file information contained in separate and independent banking and brokerage systems to create transaction processing within and between systems in response to a transaction, administrative change, etc., to automatically generate the appropriate changes in the data file information of both systems to permit up to the minute input information retrieval.
Other objects and advantages of the invention will be apparent from the following description and claims taken in conjunction with the accompanying drawings.